Mumbai: TVS Supply Chain Solutions (TVS SCS), an integrated supply chain solutions provider, has acquired Bengaluru-based FIT 3PL Warehousing Private Limited (FIT 3PL), an end-to-end contract logistics services provider.
TVS SCS has acquired 69.1% in FIT 3PL from FIT Consulting and Services Private Limited. This transaction will strengthen the existing pan-India presence of TVS SCS through the addition of more than 1.5 mn sq. ft of warehouse space, unlocking new levels of efficiency and synergies.
FIT 3PL is one of the few independent Indian logistics companies with pan India presence and has consistently delivered strong and profitable revenue growth over the years.
Ravi Viswanathan, joint managing director, TVS Supply Chain Solutions, said, “Our full range of technology capabilities can be leveraged to increase cross-selling and up-selling opportunities, and provide solutions for all new and existing customers of FIT 3PL. This acquisition will advance TVS SCS’ technology position by adding scale and empowering customers to optimize their supply chains using the power of emerging technologies.”
Set up in 1997, FIT 3PL, a full-fledged 3PL company, provides end-to-end contract logistics services to over 70 customers across sectors such as office automation, FMCG, e-commerce, retail, auto & engineering and hi-tech. FIT 3PL’s pan-India presence and the network includes 60 plus facilities managing more than 1.5 mn. sq. ft of space across 30 cities in India at high occupancy.
The warehouses are located in Tier 1 & Tier 2 cities with proximity to major industrial zones, ICDs and warehousing hubs. Earlier known as Jayem Warehousing Private Limited, the company was rebranded as FIT 3PL Warehousing Private Limited in 2020.
The company has a two-pronged approach to sustainable growth by operating in the 3PL-Warehousing space which is a high-growth sector and the road transportation space that is a huge market in itself. Within warehousing, the company is focused on white goods, which is on a high growth trajectory. With a well-entrenched network across India, the company will be able to cater to the surge in demand originating from any geography, it said.
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